Poly Acquires first Brisbane site

5 April 2019

Poly Australia has secured its first development site in Brisbane, acquiring a slice of land alongside the Doomben racecourse for $35.25 million. The 6.2-hectare site is on the corner of Lamington and Mordant Streets. The site is zoned ‘Emerging Community’ under Brisbane City Plan 2014 allowing development including townhouses and apartments. A Development Approval is in place for subdivision of site. The site adjoins a two hectare parcel of surplus land alongside Doomben racecourse on which LendLease are developing 300 independent living units and 108 full service high-care aged beds. The related Eagle Farm racecourse, (700m west) also commenced the first stage of development with Mirvac in 2016, delivering 219 luxury apartments units in two residential towers overlooking the racecourse, with one tower spanning 13 storeys and the other 10 storeys. According to the Dec 2018 Update from Mirvac, the project had sold 96 out of 174 apartments in the first 2 stages with capacity for 793 additional apartments in future stages. The Lamington site was marked by JLL. Location Plan: